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Filing Insurance Claims: What to know

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Homeowners whose property have been damaged by Harvey will need to know this information if they want to file a claim with their private insurance companies.

Flood insurance and homeowners insurance are different things. The flood insurance covers everything that was damaged by the flood. Floods are not that common and as a result, about 80% of homeowners hit by Harvey lack flood insurance. On other hand, Homeowners insurance covers damage from winds and in some cases, water damage from storm surges. Paying for damages might soon become more expensive because of recent law changes. The total cost in repairs for homeowners because of Harvey could so far be about $30 billion.

Lawyers around Texas now are urging homeowners affected by Harvey to try and file claims for property damage before Friday, Sept. 1st, when a new insurance law, called House Bill 1774, goes into effect.

If you get little to no insurance coverage and you want to sue your insurance company, this bill will lower the amount of the damage those companies pay. This means that the companies could be able to decline coverage for unfair reasons with minimal consequences. So residents still have time, but should work on beating the upcoming deadline.